Uşak Seramik Bond Coupon Payment Fails to Process
The issuer did not transfer funds for an Oct. 14 coupon payment, and no amount or replacement payment date was disclosed.
Key takeaways
- MKK said the Oct. 14 coupon payment could not be processed because Uşak Seramik did not transfer the funds.
- The disclosure gave no unpaid coupon amount or new payment date.
A coupon payment due Oct. 14 on a Uşak Seramik debt instrument could not be processed because the company did not transfer the payment funds, according to a notice published by Turkey’s Central Securities Depository.
The notice did not state the unpaid coupon amount or give a new payment date. The instrument is identified by ISIN code TRFUSAKK2619.
Uşak Seramik said on Sept. 29 that it had sought concordat proceedings to continue operations, strengthen its finances and restructure debt. Borsa Istanbul then said its shares would move from the Star Market to the Watchlist Market.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
